TrendForce: estimates that Chinese brands will increase their market share of new energy vehicles in Western Europe to 9% in 2023.

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com, June 29 (Xinhua) it is estimated that Chinese brands will increase their market share of new energy vehicles in Western Europe to 9% in 2023, up from 6% last year, according to the latest research by TrendForce Jibang Consulting.

TrendForce pointed out that due to the early development of the new energy vehicle industry, China has a relatively complete supply chain and sufficient productivity, coupled with the Chinese battery factories' mastery of cost-effective lithium iron phosphate (LFP) battery technology and capacity, as well as the layout of upstream lithium resources at home and abroad, making its cost control and high stability of parts supply, which are the advantages of Chinese car companies when expanding overseas markets.

In addition, TrendForce estimates that Chinese brands will account for 63% of the market share of new energy vehicles in Southeast Asia in 2023, according to Tuyuan TrendForce Jibang Consulting.

TrendForce believes that the reason for this trend is that Chinese brands set up the new energy vehicle market in Southeast Asia very early, although the number of new energy vehicles in Southeast Asia is still small, only 10,000 vehicles, but the proportion of Chinese brands is high. "this is a big worry for Japanese brands that have a high market share in Southeast Asia for a long time," the agency said. "

CTOnews.com, a screenshot of BYD's European official website, reported that the secretary-general of the Federation of passengers pointed out that the world's new energy passenger vehicles had a strong trend in 2023, with sales reaching 3.54 million units from January to April, an increase of 38 percent over the same period last year. During this period, China's new energy passenger car sales accounted for 60% of the world's new energy passenger car market.

At present, BYD, polar krypton, Xilai and other Chinese brands have landed in the European new energy vehicle market.